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IBM board authorizes up to $3.5 billion for additional stock repurchases.

ARMONK, N.Y.--(BUSINESS WIRE)--Nov. 26, 1996--IBM today announced that its board of directors has authorized the company to repurchase up to an additional $3.5 billion of IBM common shares. IBM said it plans to buy shares on the open market from time to time, depending on market conditions.

Since Jan. 31, 1995, the company has repurchased more than $9.7 billion of its common stock under a series of earlier board authorizations.

CONTACT: IBM, Armonk

Rob Wilson

(914) 765-6435

or

Scott Brooks

(914) 765-4392

MEDIA@INFO.IBM.COM
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Publication:Business Wire
Date:Nov 26, 1996
Words:91
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